A Florida judge approved an $83 million settlement Wednesday for former condo owners and heirs of those killed last year when the Champlain Towers South residential building in Surfside partially collapsed
The compromise settlement was originally agreed upon in February, the Miami Herald reported. Nearly $50 million of the settlement would come from a payout from the condo association's insurance carrier while the remaining $33 million would come from the sale of the property where the building once stood, the Herald reported. The opening bid for the property stands at $120 million, the newspaper said.
Now its collapse is spurring calls for reform"Number one, this settlement is going to be contingent upon the real estate closing for at least $120 million dollars," Hanzman said."And until and unless that happens there will not be one penny distributed to the condominium owners." "Number two, I am not going to deduct insurance," he said, adding that he would instead deduct $750,000 off the top"which the court will use to partially compensate counsel ...
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